National Energy Board grants Pacific NorthWest LNG 40-year licence

Pacific NorthWest LNG has been granted a 40-year export licence from the National Energy Board

The licence will allow the company to export a maximum 34.62 billion cubic metres of natural gas annual from its proposed terminal on Lelu Island near Prince Rupert.

The company had previously received approval for a maximum 25-year licence in March 2014, however, legislative amendments under the Economic Action Plan 2015 Act increased the maximum term to 40 years, the board said in its decision.

The new licence still needs governor-in-council approval, however, the NEB noted the gas Pacific NorthWest LNG is seeking to export is surplus to Canadian needs.

“The Board is satisfied that the natural gas resource base in Canada, as well as North America overall, is large and can accommodate reasonably foreseeable Canadian demand, including the natural gas exports proposed in this Application, and a plausible potential increase in demand,” the decision reads.

Atlantic Pacific Spaceline Enterprise Incorporated (APSE) sought the board to delay its decision for six months to allow time to consider the quantities of gas required for all proposed LNG projects in Canada should all exports proceed.

Read the full article on BIV.com.